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Environmental Friendly And Sustainable Food Market Size, Analysis And Forecast To 2033
Environmental Friendly And Sustainable Food Market Size
According to The Business Research Company's, The environmental friendly and sustainable food market size has grown strongly in recent years. It will grow from $115.9 billion in 2023 to $124.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.1% The growth in the historic period can be attributed to demand for organic produce, climate change awareness, increasing eco-friendly farming practices, food sovereignty movements, environmental concerns.
The environmental friendly and sustainable food market size is expected to see strong growth in the next few years. It will grow to $161.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing consumer awareness and education, increasing consumer preference for healthier and ethical food choices, increasing focus on health and wellness among consumers, increasing consumer demand for ethically sourced food products. Major trends in the forecast period include certification standards, expansion of regenerative agriculture, expansion of food waste reduction technologies, expansion of food cooperatives and collective purchasing initiatives, development in production line.
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Market Drivers and Trends:
The demand for organic produce is expected to propel the growth of the environmentally friendly and sustainable food market going forward. The demand for organic produce is increasing due to growing awareness among consumers about the health and environmental benefits of organic products. Organic produce is environmentally friendly and sustainable as it is produced in a way that minimizes negative impacts on the environment, promotes ecological balance, and supports long-term agricultural sustainability. For instance, in 2023 according to the Organic Trade Association, a US-based membership-based business association, organic food sales in the United States reached a record $56.4 billion in 2021, marking a 12.4% increase from the previous year. Therefore, the demand for organic produce is driving the growth of the environmentally friendly and sustainable food market.
Major companies operating in the environmentally friendly and sustainable food market are focusing on innovative technologies, such as cellular agriculture techniques to meet consumer expectations. Cellular agriculture techniques involve growing animal cells in a controlled environment outside of an animal's body. For instance, in April 2022, Air Protein, a US-based startup, developed a meat alternative called air meat, which is made using microbes that turn recycled carbon dioxide into protein. This innovative approach to meat production is carbon-negative, as it utilizes carbon dioxide to make the protein and aims to eventually pull carbon dioxide from the atmosphere through direct-air capture plants. Air Meat is designed to replicate the flavor and texture of real meat products such as steak, chicken, pork, and seafood. This technology aligns with the environmentally friendly and sustainable food market, as it offers a sustainable and environmentally friendly protein source, contributing to mitigating the climate impact of agriculture.
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Major Key Players of the Market:
WhiteWave Foods Company, Amy's Kitchen, Earthbound Farm, Ben & Jerry's Homemade Holdings Inc., Beyond Meat Inc., Organic Valley Cooperative, Clif Bar & Company, Nature's Path Foods, Impossible Foods Inc., Patagonia Provisions, Nutiva, Eden Foods Inc., Applegate Farms LLC, Annie's Homegrown, Lundberg Family Farms, Stonyfield Organic, Dr. Bronner's, Honest Tea, Newman's Own Inc., Sir Kensington's, Alter Eco, Kashi Company, Cascadian Farm Organic, Simply Organic, Organic Gemini
Environmental Friendly And Sustainable Food Market 2024 Key Insights:
• The environmental friendly and sustainable food is expected to grow to $161.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Consumer Demand For Organic Produce Fuels The Environmental Friendly And Sustainable Food Market
• Innovative Technologies Transforming The Sustainable Food Market A Focus On Instant Controlled Pressure Drop
• North America was the largest region in the environmental friendly and sustainable food market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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